Cain McNeil
SECTION 8 QUESTIONS (PANAMA CITY, FLORIDA)
I AM A BANKER AND PART TIME REAL ESTATE INVESTOR, LOOKING TO GROW MY REAL ESTATE BUSINESS TO A POINT THAT I MAY TRANSITION TO BEING A FULL TIME INVESTOR. MY DUPLEX (TOPIC OF THIS THREAD) WAS PURCHASED THIS YEAR FOR $1...
Dustin Beam
Pulling out initial down payment...taxed?
Hello beautiful people of BP,So, I'm no CPA, but it would seem that if I do not apply my original down payment on a property towards the new purchase, it would not be taxable as it wasn't actually a gain. So if I orig...
Rahul Gupta
Short term rental Hard Money Loans
Good Morning!
I was wondering if anyone here had successfully used a hard money loan to finance an STR? If so, is there someone you recommend that services Twin Cities, Minnesota?Also, please tell me if If there is a...
Donald Aleshire
Owner occupied refinances - Retired / No W2 income
Hello all, not sure if this the right location to pose this question, please let me know if there is a better category or location to post in. I have moved away from my W2 job and living off of investment income (rent...
Angelo Llamas
Tax breaks for a rental breaking even
I’m a little confused on what happens when your rental breaks even and you do tax breaks or write offs for maintenance , travel, etc. Does nothing happen or you don’t get anything since the property is not generating ...
Kathleen Hendricks
On-Site Manager Agreement and Compensation
Curious about how others structure an on-site manager's employment agreement (e.g. housing allowance, hourly or salary, tasks required,etc). This is for California specifically. Would also love a referral for an atto...
David Minaya
Should I create an LLC to invest in my first multi family deal
Was wondering if I should start and LLC to begin investing in multifamilies or is it okay to do it without forming a separate legal entity? What are the pros/cons? Thank you and looking forward to your responses.
Veronica Thomas
Tax credit for historic building
Just curious if someone could explain to me how the 20% tax credit works for an old building. My husband and I are looking to invest in a 100 year old 2-story building in the downtown area of our small town. The buil...
Philip C.
Am I a "Business" or "Investor" for Tax Purposes?
Hello,According to NOLO's Tax Deduction Guide, the waters are somewhat murky when determining whether a rental property owner is a "business" or "investor." I own one out-of-state single family residence that has ten...
Elizabeth Park
Property in my name but hard money in LLC?
I am buying a property under my name and planning to transfer to an LLC later but my hard money lender says I have to borrow under an LLC. I have not set one up yet for this property. I do have an LLC that is not asso...